New York State Common Retirement Fund Sells 57,636 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

New York State Common Retirement Fund lessened its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 764,674 shares of the company’s stock after selling 57,636 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Archer-Daniels-Midland worth $55,225,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Archer-Daniels-Midland during the third quarter worth approximately $28,000. Tompkins Financial Corp bought a new stake in shares of Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Legacy Financial Group LLC bought a new stake in shares of Archer-Daniels-Midland in the third quarter valued at approximately $30,000. Operose Advisors LLC bought a new stake in shares of Archer-Daniels-Midland in the third quarter valued at approximately $30,000. Finally, Strengthening Families & Communities LLC boosted its stake in shares of Archer-Daniels-Midland by 37.3% in the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock valued at $48,000 after buying an additional 174 shares during the period. Institutional investors own 78.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, March 13th. Argus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Robert W. Baird cut Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and cut their price target for the company from $96.00 to $61.00 in a research note on Monday, January 22nd. BMO Capital Markets cut their price target on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Finally, Barclays cut Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.50.

Archer-Daniels-Midland Stock Down 1.1 %

Shares of NYSE:ADM opened at $61.80 on Wednesday. The company has a fifty day moving average of $58.64 and a 200-day moving average of $65.40. The company has a market capitalization of $31.01 billion, a PE ratio of 9.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 1.60. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.07). The company had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.79 billion. Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.93 earnings per share. On average, equities analysts predict that Archer-Daniels-Midland Company will post 5.48 EPS for the current fiscal year.

Archer-Daniels-Midland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 8th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.24%. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, February 7th. Archer-Daniels-Midland’s dividend payout ratio is presently 31.25%.

Archer-Daniels-Midland announced that its board has authorized a share buyback plan on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Archer-Daniels-Midland Company Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.